BUSINESS
03/18/2010 05:12 am ET Updated May 25, 2011

U.K. Bonus Tax Didn't Deter Banks From Paying Bonuses: Report

As a deterrent, the measure to tax bonus payments of more than �25,000 at a one-off rate of 50 percent has failed, as many banks decided to pay the tax rather than cut back on bonuses, The Financial Times reported.

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